Chapter 1 Flashcards
It’s a situation that exposes someone or something to danger or loss.
Risk
The probability of threat or damage, injury, liability, or any other adverse occurrence that is caused by external or internal vulnerabilities, and that may be avoided through preemptive action.
Risk
It pertains to any source of potential damage, harm, or adverse health effects on or someone.
Hazard
The chance or probability that a person will be harmed or experience an adverse health effect if exposed to a hazard.
Risk
___ is something that can cause harm while ___ is a chance that any hazard will cause harm to somebody.
Hazard, Risk
It is the identification, evaluation, and prioritization of risks.
Risk Management
It is followed by the coordinated and economical application of resources to minimize, monitor, and control the probability of unfortunate events to achieve the desired output.
Risk Management
___ in tourism and hospitality industry is a two-way process.
Risk Management
___ is another source of risk that could impact the tourism and hospitality industries.
Credit
___ is the potential that a bank borrower or counterparty will fail to meet its obligation following agreed terms.
Credit Risk
___ and ___ are sometimes being used interchangeably.
Risk, Accidents
___ are reactive, ___ are preventive
Accidents, Risks
Necessary to reduce cost pertinent to the accident, to wit: damaged property, cost of rental, maximization of subrogation recovery.
Accident Management
7 common injuries in the hospitality industry
Slip-and-fall injuries
Musculoskeletal injuries
Skin reactions
Respiratory illnesses
Security-related accidents
Food poisoning
Elevator and escalator accidents
Accidents due to fortuitous events or acts of God (8)
Earthquakes
Volcanic eruption
Flood
Landslides
Erosion
Fire
Storm
Typhoon
